July 16, 2023 – Looking to invest in Croatia? An overview of 4 Croatian investment projects.
In Croatia, a land teeming with investment opportunities, there are certain projects that the Ministry of Physical Planning, Construction, and State Assets decided are worthy of special attention. Hence, it has published the informative brochure named “BEAUTY. INVEST. CROATIA.” Within its pages, four projects can be found: Jurjeva Luka, Hidrobaza, Promajna, and Perna. These projects, all situated on the coast, are potentially lucrative opportunities for investors seeking to capitalize on Croatia’s thriving economy. With public tenders scheduled for the third quarter of 2023, the four projects represent an enticing chance for discerning investors who seek long-term gains and wish to secure a stake in Croatia's bright future. And the Ministry’s recognition of their potential surely underscores the value and attractiveness of these investment ventures.
1. JURJEVA LUKA
Situated on the island of Lastovo, the project Jurjeva luka includes a large land for tourism development and construction of a nautical tourism port, with a building plot of a size of approx. 10 ha. The urban development plan allows the construction of hotels and villas of categorisation 5 stars, with the area for construction of tourist facilities being 6.3 ha, and area for construction of villas 2.8 ha. The capacity which could be realized there includes 500 beds (450 in hotels, 50 in villas).
The project also enjoys the maritime domain, i.e. a beach, for whose development a concession is granted. Within this domain, a nautical tourism port of a surface area of approx. 12 ha and the land area of approx. 2.75 ha for the construction of a parking lot, garage and catering and tourist facilities are planned on Lastovo. The sea area (aquatorium) with a surface area of approx. 9 ha envisions the construction of a marina with a capacity of up to 400 berths.
And what about the island of Lastovo itself? Located in the Adriatic Sea, namely in the southern Dalmatian archipelago, and known for its unspoiled natural beauty, Lastovo is recognized as a protected nature park due to its rich biodiversity and pristine landscapes. The island is characterized by dense forests, vineyards, and high coastal cliffs, offering visitors a tranquil and idyllic retreat. Lastovo Town, the main settlement on the island, showcases charming stone houses and a historic core, reflecting its rich cultural heritage. With its stunning coastline, secluded coves, and crystal-clear waters, Lastovo is also a popular destination for boating, swimming, and diving enthusiasts. The island's remote location and untouched nature make it an ideal destination for those seeking an authentic and off-the-beaten-path Croatian experience.
The second project is called Hidrobaza and it is a compact building plot for high-intensity tourism development (approx. 28.6 ha). Štinjan Urban Development Plan allows the construction of a hotel, an apartment complex and a campsite with a 4–5-star rating. The height limitation is set at 16 m, with a maximum of 4 grounds being built. The Republic of Croatia owns more than 90% of the plot, while the rest is co-owned with the City of Pula. The construction area is 16.7 ha (construction coefficient 0.30), and the maximum number of beds is 1200. There is also a recreation area of 11.9 ha envisaged as part of this project.
The western side of the site enjoys a developed beach on maritime property. Regarding the infrastructure, connection to public infrastructure is required and existing infrastructure should be upgraded by the development or expansion of the electrical grid, water supply system, and gas distribution network. Nonetheless, the location has excellent motorway connections with European cities: Munich – 605 km, Vienna – 598 km, Milan – 550 km and less than 10 km to the city centre, the motorway, and the airport.
This plot is in the city of Pula, Istria, the leading Croatian tourism, wine, and gastronomy region, with 2300 hours of sunshine and more than 25 million overnight stays a year. Pula itself is an ancient City with a rich cultural heritage. The Roman amphitheatre dating back to 1st century AD particularly stands out. The amazing Brijuni National Park – lying just across Hidrobaza – with its beautiful flora and fauna will also take your breath away. This project’s value is estimated at around 50 million EUR.
The project Promajna includes the existing facilities located in a pine forest near the sea, planned for urban transformation, economic uses, and tourism (hotels and/or villas) with the minimum quality of new facilities being rated 4 stars. These accommodations could provide around 800 beds and the smaller part within the planned zone is envisaged for sports and recreational purposes.
The building plot has a size of approx. 6,8 ha and it is the former Children’s sanatorium for respiratory diseases ‘’Dječje selo.’’ Situated in Promajna, on Makarska Rivijera, 4 km south of Baška Voda, this project can be found in a perfect place, with eye-catching beaches and optimal climate, for a peaceful vacation, especially suitable for families. Likewise, it is well connected by road; 7 km from Makarska, 50 km from Split (airport), and 12 km from one of the main highways, Highway A1. Lastly, there already was a public tender for this project in 2021 and its price was set at 14 million EUR.
This project is located on the beautiful island of Pelješac, one of the largest peninsulas in Croatia. It is suitable for tourism development, has a total area of 8,5 ha and enjoys the presence of Perna tourist settlement with hotel ‘’Komodor’’ and camp Orebić. Its potential includes a maximum capacity of 900 beds, namely 630 in a hotel and 270 in villas. A former military resort, the site is situated right on the seashore, above the landscaped beach, in the immediate vicinity of Orebić, opposite the island and town of Korčula.
Pelješac peninsula itself is located halfway between Split and Dubrovnik. This second-largest peninsula in Croatia enjoys a great Mediterranean climate that has made it the perfect climate for growing vines and making top-quality wines. Pelješac is also famous for its salt pan. Furthermore, the Pelješac Riviera is the warmest part of the Croatian coast, where the fragrant garden of the Mediterranean blooms, full of almonds, walnuts, figs, pomegranates, citrus fruits, and kiwi. Importantly, Pelješac has recently been connected to the mainland by the Pelješki Bridge and the vicinity of Split and Dubrovnik are indeed helpful.
To end this first part, one or more of these projects could easily spark someone’s interest; however, for those who would like to look further, in the upcoming Part 2 you can read about 4 other projects which are equally worth your attention.
— TEASER – ‘4 Croatian Investment Projects Worth Your Attention: Part 2’
And check our new TCN section Invest in Croatia for further articles.
If you are interested in any of these projects or investing in Croatia, contact us at [email protected]